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Stock impact report

Oil Holds Near 18-Year Low as Demand Shock Outweighs Output Cuts [Yahoo! Finance News]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
) -- Oil was anchored near $20 a barrel after closing at an 18-year low as concerns over virus-led demand destruction outweigh an agreement by the world’s biggest producers to curb supply.U.S. crude stockpiles ballooned by a record 19.2 million barrels and gasoline consumption held near the lowest level in three decades last week as efforts to stem the spreading coronavirus curb travel and keep people in their homes. The International Energy Agency said Wednesday that even output cuts by OPEC+ couldn’t counter the demand collapse caused by the pandemic.Oil has erased around two-thirds of its value this year as the outbreak pummeled demand, leading refineries to cut processing rates, drillers to halt production and global storage to swell near capacity. U.S. output has declined only marginally and the glut is looking so severe that the Trump administration is considering paying American companies to leave crude in the ground.“There are still questions about compliance with the agreed c Show less Read more
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